- April 23, 2024
- Posted by: legaleseblogger
- Category: Related News
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# Young Adult in Panic: Seeking Help for Elderly Parent Defrauded in Crypto Scheme
Hi, I’m a young adult in a panic as one of my elderly parents has likely been defrauded of thousands of dollars in a crypto scheme. They mentioned that Elon Musk was involved in promoting crypto in some advertisement, leading them to invest in Kraken, which mysteriously disappeared. There’s mention of a website called “how to crypto” that further confuses the situation.
My parent was so distraught by the ordeal that they deleted their internet history, making it challenging for me to piece together what exactly transpired. Compounding the issue is my lack of understanding of crypto and how these schemes operate.
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I am desperate for advice on how to proceed in this delicate situation. It is clear that my parent requires professional medical assistance, and I’m committed to accompanying them to seek a thorough medical check-up. I apologize if this message seems scattered, but I am truly overwhelmed by the gravity of the situation.
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****** just grabbed a
> advice on what to do
File a police report. Take control over you parents accounts.
Money is gone.
There are these fake AI ads where they pretend to be Elon selling crypto and get you to give your money away. They didn’t buy any crypto they just lost the money. Nothing to do about it now.
Elon Musk wasn’t actually involved and there never was any crypto. Someone convinced your father to send them money using that as a story, so he sent them money. Look up the pig butchering scam. Scams are usually successful because people are either naive, greedy or lonely. Time for an assessment of your father’s financial and mental health. You do something about naive; teach your father about how scams work and who to trust. If anyone contacts your father saying that they can recover the money, that is also a scam. There’s no need to try to reconstruct what happened, the priority is to make sure it doesn’t happen again.
You’re not getting money back. The money is gone. You should file a police report. But most likely that will just help to collect statistics and data on the crime happening. There is a small chance that something could come of your report as part of a larger case, so it is worth filing. But the likelihood of any recovery of money is pretty much nonexistent.
Just be aware that the follow on scam is ‘recovery services’ that will promise they can get some of their money. They cannot, it’s just another scam.
https://consumer.ftc.gov/articles/refund-and-recovery-scams
There was no crypto. It wasn’t Muskrat.
Scammers took their money.
It’s gone.
Try your best to teach your parents about online scams.
> I know I should visit a doctor with them soon and that we need to do a serious medical check-up…
Pump the brakes a little. Are there any other signs that give you concern? People young and old, healthy and sick fall for scams like this every day because unfortunately greed is not illness that can be treated.
As others have said, the money is gone. File a police report, have a discussion with your parents and educate them regarding online scams and then take things from there.
Don’t let you, or them, feel too awful about falling for such a scam. You feel bad enough about losing the money. You don’t need to doubt their intelligence or sanity. *I work in artificial intelligence* and I was fooled by the first Musk deepfake I ran into for a couple minutes — “Why the F is Musk trying to talk people into some cryptocurrency scam? He’s crazy but not that craz… oh shit it’s in the wild already.” So take ’em to the doctor, but this is something you don’t need to be suffering from a cognitive impairment to fall for. (Everyone: talk to your elderly parents about what AI can do and how they can’t trust imagery. It’s going to get really bad.)
How did they buy the cryptocurrency? If it’s on a credit card, or through a bank transfer, act fast and start talking with the companies, there’s a small chance it may be reversible.
But honestly, probably not. These scams involve sending the cash to a legitimate (as legit as anything cryptocurrency touches can be…) exchange and then send the cryptocurrency after that, to the scammer. The person who actually exchanged $ and crypto is just a law-abiding (maybe) intermediary. Like if you were told to buy a scam product in something in USD; the foreign exchange service wasn’t the one who ripped you off and you can’t go to them seeking your CAD back because you spent the USD on a scam.
After that point, it’s not unlike mailing cash in an envelope to some random address in another country.
Not much to be said. You could try contacting Kraken as well but I don’t think you’re going to get much help. Most likely, the money will just be lost, sorry.
As said by others, the money is gone, but as an aside I cannot believe there is no penalty / fault for the platforms that allow these fake AI advertisements using well known people like Elon to scam the naïve.
Yeah, they got scammed, people get scammed all the time.
The problem is they got greedy and tried a get rich scheme, most of which are scams.
What really happened is they sent their money to some random account.
What medical checkup, just because you were scammed doesn’t mean there is a cognitive impairment. I consider myself a very skeptical guy and I almost fell for a scam where they come to “check your gas bill”. In retrospect I can’t believe i was so dumb.
However the scammers that are good are really smooth. They make used car salesmen (or even worse mattress salesmen) seem like amateurs.
My mom showed me this scam on her FB feed. It was AI generated audio and speech. Almost seemed legit. I can see how old people would fall for this.
File a police report. Likely the money is gone….
I’m so sorry to hear that OP, hope you take care 🙂
How old are your parents? As a “young adult” I can’t imagine your parents are in their 80’s. Falling for a scam like this on its own isn’t a mark of cognitive impairment, it’s a mark of inexperience. You probably need to have a good talk with them about scams – check your local seniors’ centre or with your local police. They probably have some info on scams to watch out for. There are a ton of people in their 60’s working in the IT industry, so your idea of elderly and what is actually elderly might be different.
Of course, if this is part of a pattern of worrisome behaviour, have them checked out.
The only think you need to understand is that the money is long gone and they will almost certainly never get it back.
Don’t stress about it because there’s nothing you can do besides file a police report.
You can file a police report and speak to the fraud department at your parents bank? The bank which issued the card that was used. Not saying either option will help you or your parents… but it’s worth a shot
There is nothing you can do to fix this issue – that money is gone. If it’ll make them/you feel better you can file a police report, but it is very, very, very unlikely anything happens, especially without any kind of browser history, data, etc.
You can take steps to prevent it from happening again. Teach you parents about internet scams, maybe set up some kind of system where they get help on any new/large transactions. If it’s a really significant issue, you can look at POA/limiting their account access, but that bar will be high.
File a report. Learn the lesson. Money gone.
Not a lot to do the money is gone your parent fell for a scam. Explain to them it’s very foolish to trust things off the internet without some vigorous research. I spent about 10 seconds on Google searching up this website before I started seeing red flags.
Your parent isn’t lacking mental facilities they just don’t understand the scale of the internet very well. Which is perfectly common amongst the older generations.
Also file a police report because you never know.
It’s gone… I’m sorry
With crypto, there is no customer service to call. It’s too bad.
Don’t fall for any recovery scams. The money is gone, don’t lose more trying to get it back.
FaceCrook has some responsibility here for letting these scams run!! I’ve reported that Elon “Crypto” ad several times & it’s still running! All social media has a DUTY to clamp down in Fake Ads. Email your MP, sign petitions, start a petition, Report fake ads you see, use your voice!! These scams are sometimes sending $$ to terrorists, Russia, China, etc.. as well as to local thieves. There’s no way these GIANT Corps w tons of $$ can’t do a better job of catching these fake ads. Unacceptable!! We all need to pressure govt to ACT and force Medias to block this absolute scourge! 🤬
Go to r/scams and search for the following terms !crypto !pigbutchering !recovery (this one is specially important, because the money is gone but your parent is going to find vultures that will prey on their naivety to scam them even more with the promise to recover the funds which is impossible).
Hey OP,
I was a Fraud Analyst at a bank. So this is coming from professional experience.
First of all, I’m so sorry you and your parents are having to go through this. It’s such a tragic feeling.
Secondly, please do educate your parents on all the types of scams they might be potential targets for.
Third, if you want to pursue this at the fullest extent, you can contact your ISP (internet service provider) to give you a list of IP address/websites that was visited within the time from of the scam. With that in hand, you can definitely go to police/RCMP to get law enforcement involved.
Another thing you can do is, if it is Kraken that was involved, give them all the details of events and hope they can do something. Crypto is decentralized but definitely traceable. The sad part is, scams and fraud are so rampant, it is extremely difficult to go on a hot pursuit. Kraken literally has a fraud and AML department (which I applied for lol), so this predicate offense and the following activities with the stolen funds is high crime indeed, which needs to be brought to their attention.
If you need more ideas or advice, please feel free to DM me! Always open to help however I can.
All the best to you and the family.
There was a video from a year ago, an older lady lost $750k.
It’s mind boggling to me that those crypto scam commercials are allowed on YouTube. Whether it’s Trudeau or Elon in them I don’t understand how both of them haven’t demanded YouTube to remove them. It’s sad to keep seeing stories of people falling for them.
Fuck social media for it’s BS moderation. We need to demand better.
Honestly, i saw some of these ads, they were probably the same scam, obviously it wasn’t Elon it was a deepfake. I was shocked that anyone at Google approved those ads they were playing on youtube. Someone should sue Google for promoting fraud imo
I’m so afraid of my parents using the internet, they need to make an elderly mode that you can enable on windows.
My father was defrauded 15k cad like in 2019 and the case lasted years. Even thought we won 6 months ago and got this authorization from court to get funds out from his banking institution but the dude criminal removed all the funds from his bank account before we could withdraw it for us. Now the next step is to contact the court again which we did and they are going to put this dude in prison and hopefully that would teach him a lesson and we will get our funds back.
So sue the dude and don’t loose heart because it will take years!
These ads are all over Reddit app sadly as well. I’m sorry your parents fell into this trap.
Do they use Twitter or whatever the hell that Elon calls it? I ask this because I see lots of crypto scam ads on there
To put it in perspective, buying crypto and sending it off is the same as FedExing gold bars to Eastern Europe.
It’s gone.
I’m very sorry for the loss.
I have a friend who fell victim to something like this a few years ago. He just completed his PhD and is well respected in his field. To this day, I still don’t understand how he fell for such an obvious scam.
Bye bye money
Elon musk wasn’t promoting crypto on an ad, that was an AI pretending to be him. come on now, Kraken is actually a legit website but they probably didnt use Kraken.
My MIL is currently embroiled in a similar scam that “Elon Musk” has told her she should get involved in. Along with some other scams, simultaneously.
Not much to scam out of her since she only gets a small amount of retirement money, but like… she lives off the food bank because she has spent all her money on scams. She is also now homeless because she has burned up any good will with family or friends who have previously housed her.
My wife and her siblings had her forcibly evaluated for mental incompetence, so they could regulate her finances and get her access to housing and other resources. No dice. It’s a really high bar in Ontario to have someone declared mentally incompetent, like you don’t have the mental wherewithal to feed, bathe, and clothe yourself. Apparently being really really stupid is not sufficient evidence of being mentally incompetent.
Help educate them for the future. Money is gone and cops won’t help with that
Did they put it through their credit card? Perhaps you can ask your credit card company to claw it back
So sorry for you. I don’t understand why there aren’t any more prevention at doctor’ office. Our older people are so vulnerable and the scammers so good.
Sorry for your loss but your parent’s money’s gone. Crypto transactions are non reversible.
Long gone
This will get downvoted, but YOU know your parents and their mental capacity better than anyone. Certainly better than strangers on Reddit. Cognitive decline happens at a variety of ages. I’ve seen sprightly 95 year olds and others that are completely addled at just 60… it just depends. Just know that early onset Alzheimer’s doesn’t just appear out of the blue. It’s genetic and if you have no family history, the chance your parents have it is extremely unlikely.
Also be aware that there are many reasonable smaller steps you can take before going full “power of attorney” on them. Lower their credit card limit… have the bank reduce the daily amount they can e-transfer… add YOUR email/phone to all their banking alerts.
Sorry this happened to you. Wishing you and your folks the best.
Beyond all the advice you have here, that is a clear cut and very concerning demonstration of the lack of critical thinking from your parent. I would strongly recommend you think about ways to safeguard them since clearly, they can no longer be trusted to manage their own money rationally.
Elon got me to invest 2k into doge coin with all the promoting he was doing during COVID…. That’s when it was pushing like 60 cents, never seeing most of that money again 😭 and that was my intro to crypto.
Please head over to r/scams and also please BEWARE OF DMs TELLING YOU THEY CAN RECOUP THE MONEY. These are scammers as well.